Deutsche Bank AG Invests $1.84 Million in Equitable Holdings, Inc. $EQH

Key Points

• Deutsche Bank acquired 41,931 shares of Equitable Holdings during the second quarter, valued at approximately $1.84 million. Institutional investors collectively own 92.7% of EQH’s outstanding stock.
• Equitable insiders sold 114,541 shares worth about $5.36 million over the past 90 days, including sales by the company’s chief accounting officer and chief operating officer.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $61.75. The company also beat quarterly EPS estimates and pays a $0.30 quarterly dividend, yielding about 2.4% annually.

Deutsche Bank AG acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 41,931 shares of the company's stock, valued at approximately $1,840,000.

A number of other hedge funds have also bought and sold shares of EQH. Johnson Financial Group Inc. bought a new stake in Equitable during the third quarter valued at $26,000. Covestor Ltd lifted its stake in shares of Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock valued at $35,000 after purchasing an additional 404 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Equitable during the 3rd quarter valued at about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Equitable during the 2nd quarter valued at about $33,000. Finally, Geneos Wealth Management Inc. grew its stake in Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock worth $46,000 after purchasing an additional 424 shares during the period. Institutional investors own 92.70% of the company's stock.

Insider Activity at Equitable

In related news, CAO William James Iv Eckert sold 6,200 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total transaction of $259,346.00. Following the completion of the sale, the chief accounting officer owned 9,366 shares in the company, valued at approximately $391,779.78. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey J. Hurd sold 14,358 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $45.11, for a total value of $647,689.38. Following the completion of the sale, the chief operating officer directly owned 74,748 shares of the company's stock, valued at $3,371,882.28. The trade was a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 114,541 shares of company stock valued at $5,357,784 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

EQH has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target on Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Evercore reaffirmed an "outperform" rating and set a $66.00 price target on shares of Equitable in a research note on Thursday, August 20th. Mizuho set a $68.00 price target on Equitable in a report on Thursday, August 6th. Wells Fargo & Company raised their price objective on Equitable from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Finally, Barclays boosted their price objective on Equitable from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Equitable presently has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Equitable Stock Performance

EQH opened at $50.15 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $55.15. The firm has a market capitalization of $13.69 billion, a PE ratio of -15.15, a P/E/G ratio of 0.49 and a beta of 1.09. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. The company's 50-day moving average is $48.30 and its 200 day moving average is $43.58.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The company's quarterly revenue was down 29.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, research analysts predict that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. Equitable's payout ratio is presently -36.25%.

About Equitable

Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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